The leaders of G20 nations noted the climate finance requirements of developing countries. They agreed to work towards facilitating low-cost finance for energy transition in developing nations.
Hitachi Energy India has won the contract to provide a grid connection solution for Ayana Renewable Power’s upcoming 300 MW solar photovoltaic power plant in Bikaner, Rajasthan.
India’s energy system requires investments totaling $12.7 trillion between 2022 and 2050 to reach net-zero emissions by mid-century.
The Indian carbon credit system, operating under the Clean Development Mechanism (CDM) and the United Nations Framework Convention on Climate Change (UNFCCC), stands ahead in several aspects.
Power Finance Corp. (PFC), the largest lender to the Indian power sector, recorded a net profit of INR 11,605 crore in FY 2022-23.
Tata Power-DDL sourced 2,600 million units of green power from renewable sources such as solar, wind, hydro, and waste in FY 2022-23. With this, it scores a hat trick of Renewable Purchase Obligation (RPO) compliance.
Tata Power’s profit after tax (net profit) grew 29% year-on-year to INR 1,141 crore ($137.6 million) in the April-May-June period of FY 2023-24. Consolidated revenue stood at INR 15,003 crore.
Apraava Energy will use the funds to develop its wind, transmission, and advanced metering projects.
The projects are part of the evacuation scheme for 20 GW of renewable energy generation in Rajasthan to the national grid.
Larsen & Toubro has secured contracts to implement advanced distribution SCADA and HVDC transmission lines.
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